IL HB5648

Creates the Fantasy Sports Consumer Protection Act, establishing Illinois Gaming Board regulation of fantasy contest operators with licensing requirements, fees, and tax collection authority.

Imposes monthly taxes on adjusted gross fantasy contest receipts at a rate of 10-15% beginning July 1, 2025, with revenue directed to the Common School Fund; registration and renewal fees split 85% to State Gaming Fund and 15% to Department of Human Services for gambling treatment programs.

Requires fantasy contest operators to implement identity verification, geolocation technology, age verification (minimum 19 years), anti-money laundering compliance, and fraud detection measures; establishes voluntary self-exclusion program for participants with forfeiture of prizes to problem gaming charities.

Excludes fantasy contests from the definition of "sports wagering" under the Sports Wagering Act and exempts fantasy contest wagering conducted under this Act from criminal gambling charges under the Criminal Code of 2012.

Mandates annual supplier diversity reporting by licensees on procurement spending with women, minority, veteran, tribal, indigenous, and disabled-owned businesses; requires independent audits and testing laboratory verification of compliance.